Nashville Bits and Pieces

[volsfanwill]

Here are some ariels of the Omni from their website.:

 

http://www.skyscrapercity.com/showthread.php?t=138754&page=123

just look at all those surface lots wasting space

[nashvillwill]

Yeah, but don't forget that this used to ALL be a parking lot. Baby steps. Baby steps.

[East Side Urbanite]

Those are some fine aerial photos.

 

WW

[MLBrumby]

Nashville loses another F500 company... and again (like Healthspring to Cigna) this is a direct result of Obamacare's effect on the industry.  http://www.tennessean.com/article/20130624/BUSINESS/306250004/Nashville-s-Vanguard-Health-purchased-by-Tenet-1-8-billion?odyssey=mod{sodEmoji.|}breaking{sodEmoji.|}text{sodEmoji.|}FRONTPAGE

[samsonh]

Ml,

Companies are purchased all the time. Literally every day. In fact Chs tried to buy thc a few years ago. Was that the result of obamacare? Lol!!

[MLBrumby]

Trust me... I am an attorney dealing with M&A in the HC industry.  You just named a company in this industry that tried to buy Tenet.  The consolidation that is happening in this industry suddenly went into overdrive three years ago due to a host of reasons, but having much to do with the uncertainty of future regs (many still tbd), the economies of scale/market presence required to survive in the less competitive (aka top-down) field (think Utilities industry), and just good old cash reserves.  So yes, even the recent stepped-up shopping by CHS and health insurance companies are consequences of O'care.  I don't know what your credentials are in this field, but if you'd like to debate this topic, let's take it up in the Coffee House.  

[samsonh]

Gladly

[BnaBreaker]

Nashville loses another F500 company... and again (like Healthspring to Cigna) this is a direct result of Obamacare's effect on the industry.  http://www.tennessean.com/article/20130624/BUSINESS/306250004/Nashville-s-Vanguard-Health-purchased-by-Tenet-1-8-billion?odyssey=mod{sodEmoji.|}breaking{sodEmoji.|}text{sodEmoji.|}FRONTPAGE

 

I'll not turn this into a political debate, especially if you do actually intend to set up a debate on coffee talk, but how incredibly typical it is of you to cherry pick a single instance like this as an example of Obama supposedly 'ruining' the nation and it's economy, while conveniently turning a blind eye to, and giving him zero credit for, the fact that most urban areas in this nation, Nashville in particular, have been experiencing quite a boom for the last several years. 

 

Cue a freaky FMDJ rant about god hating communists in 3..2...1...

[fieldmarshaldj]

^I'm in your head.

[samsonh]

I'll not turn this into a political debate, especially if you do actually intend to set up a debate on coffee talk, but how incredibly typical it is of you to cherry pick a single instance like this as an example of Obama supposedly 'ruining' the nation and it's economy, while conveniently turning a blind eye to, and giving him zero credit for, the fact that most urban areas in this nation, Nashville in particular, have been experiencing quite a boom for the last several years. 

 

Cue a freaky FMDJ rant about god hating communists in 3..2...1...

Not too mention the fact that he should be happy Vanguard was bought. They were purchased at a 70%premium. There are a lot of local employees who will be getting a nice payday. Not too mention the fact that many times the execs of the target company go on to create a new company and new jobs. Clearly Tenet thinks Vanguard provides a huge potential return. I am not sure how this is bad for the economy. I am not sure how this is bad at all in fact.

[MLBrumby]

You guys can believe what you want to believe... just keep in mind, there are consequences to every single law passed in this country.  Like it or not!  And I see the effects directly in the HC industry daily.  I can tell you that there will be a lot more consolidation very soon too.  And I assume there was an attempt at snarky humor, but a rightwing "rant" is not any more predictable than the kneejerk defense of all the consequences of Obamacare.  I am working with two very large health insurance companies that are pursuing their separate acquisitions... and one big consequence will be the elimination of 2000 jobs. Ugh!  Now, if BNA is true to his word and he doesn't want this to become a political debate then I guess this ends here.  If he or anyone else wants to wind it up in a civilized manner... then please!! Start a new thread in the coffee house.

[MLBrumby]

Not too mention the fact that he should be happy Vanguard was bought. They were purchased at a 70%premium. There are a lot of local employees who will be getting a nice payday. Not too mention the fact that many times the execs of the target company go on to create a new company and new jobs. Clearly Tenet thinks Vanguard provides a huge potential return. I am not sure how this is bad for the economy. I am not sure how this is bad at all in fact.

I'll say this again as factually and neutrally as possible... Nashville has lost another Fortune 500 company.  A F500 is NOT a startup.  I never said that startups are not great... and I know first-hand.  But whenever an area loses a F500 company (for any reason), it takes a bit of lustre off the area as a hub for that particular industry.  Nashville is a hub (for now) for healthcare... and its infrastructure is quite good for that.. but it is an industry in a great deal of change... and virtually all trends in medicine are toward the government mandates that will weaken turn the industry into something that resembles the utility/power industry... i.e. with bigger and fewer players, less entrepreneurial, less flexible and more power in DC.  Simple logic.

[samsonh]

I'll say this again as factually and neutrally as possible... Nashville has lost another Fortune 500 company.  A F500 is NOT a startup.  I never said that startups are not great... and I know first-hand.  But whenever an area loses a F500 company (for any reason), it takes a bit of lustre off the area as a hub for that particular industry.  Nashville is a hub (for now) for healthcare... and its infrastructure is quite good for that.. but it is an industry in a great deal of change... and virtually all trends in medicine are toward the government mandates that will weaken turn the industry into something that resembles the utility/power industry... i.e. with bigger and fewer players, less entrepreneurial, less flexible and more power in DC.  Simple logic.

 

Wait, is this why you are upset?? Fortune 500 companies come and go constantly. Seriously. You are mad that a comapny based in Middle TN was bought? I mean PSYS was bought for a handsome sum just a few years ago. And the execs from there went on to buy Acadia and have built it into a billion dollar company in just a couple of years. Innovation happens like that.

 

Healthspring sold to Cigna because Cigna offered $55 a share. It would be irresponsible to not sell. The same thing applies here. Companies are owned by shareholders. Some of those shareholders live in Nashville, most do not. Companies have a duty to maximize the wealth of the company for shareholders. Vanguard has done a pretty poor job of that since going public. This buyout will correct a lot of the mistakes they have made.

 

The arguments you are making make very little logical sense. You cannot be emotional about these things, this is business.

 

I'll let others decide if they think your arguments against Obamacare are based on facts rather than emotions.

Edited June 24, 2013 by samsonh

[MLBrumby]

The examples you cite do not prove your point.  An analytical mind would ask/know why Cigna offered the premium for HS.  To put it very simply, this has to do with future market pressures (i.e. environment). 

 

I'll say this again... Nashville has lost another Fortune 500 company!  Where do you jump to the conclusion that I am "mad".  If you think that makes me upset, then you must think you know all about me.  How would you know that my firm wasn't involved in the transaction?  Would you know if a partner here was sitting on the board?  I wouldn't be able to tell you anyway. If there were a reason for me to be disappointed, it might be that I'm not with the Blackstone group or an executive with VHS to get the 70% premium.  But good for them.

 

It really seems to me that the ones who are upset here are the ones trying to deny that these changes are due in great part to Obamacare... however, if you read Charlie Martin's comments, he specifically mentions that will help them survive "through the coming changes". 

 

So just to reiterate: Nashville loses another F500 company. It's the reality we are in... nothing you or I can say or do will change that.  To quote a famous resident of DC, "It's the new normal." 

 

But seriously, if you're still compelled to debate this topic, start a new thread. I'll meet you there when I can, but I've really got to get back to work (lunch over!).

Edited June 24, 2013 by MLBrumby

[NashRugger]

Guys, "Coffee House".....

[MLBrumby]

Not sure what this means, but it's yet another reflection of the growth in the midstate.  IMHO, Brentwood "booming" is far less interesting to me than other parts of the metro.  http://blogs.tennessean.com/business/2013/06/26/study-brentwood-among-top-booming-u-s-suburbs/

Edited June 26, 2013 by MLBrumby

[nashvillwill]

Our group may get a good laugh out of this;

http://nashvillecitypaper.com/content/city-news/weekly-obsession-rumors-i-ve-heard-few-let-s-put-them-rest

[UTgrad09]

Our group may get a good laugh out of this;

http://nashvillecitypaper.com/content/city-news/weekly-obsession-rumors-i-ve-heard-few-let-s-put-them-rest

 

JR is definitely one of my favorite writers. Entertaining bit he has there.

[MLBrumby]

Yes... he did well on Jeopardy too!

[smeagolsfree]

Will we see new condo towers rising again soon.

 

http://nashvillepost.com/blogs/postbusiness/2013/6/27/parks_research_reveals_condo_tower_units_in_high_demand

[volsfanwill]

hmm, Enough demand for Signature to be back on the table?

[UTgrad09]

hmm, Enough demand for Signature to be back on the table?

Or -- would the SoBro be better as a condo development?

I still have my doubts about Siggy.

[nashvylle]

I think a smaller 750 foot signature tower could definitely happen, however I doubt tony is ahead of the game and thinking about doing that

[Guest 5th & Main Urbanite]

1) Construction about to start on the police precinct. Backhoe for excavation is on site and they have walled off sidewalk with fencing.

 

2) Demolition for the Hilton Garden Hotel was completed in February. Five months later here in July , no dirt movement on the site. Ron says it is tied up in permitting.

 

3) Still nothing on the Adam Liebowitz site in East Nashville on 9th and Main Street. No recent update on this mixed use project now delayed almost a year due to environmental issues.

 

4) 703-705 Woodland Street seems to be cancelled for the second time as Cushman Wakefield has a "For Sale" sign on the property which was to have 300+ units.

 

5) The Crying Wolf On Woodland Street and Ken's Sushi due to open up soon on Main Street in East Nashville.

 

6) The Ten Sixteen Restaurant now open next to Five Points Pizza at Five Points in East Nashville.

 

7) I was told Division Street will connect to downtown with a street extension and bridge, by the Marketing Director at Yazoo Brewery. This is in addition to the connector bridge to be built near Pine Street Lofts to end near the Roundabout.

 

8) Fairfield Inn is well on its way and is already making a street impact in The Gulch. The same goes for the Ray Hensler Tower which is about to start the 3rd floor and is already towering over the street.

 

That is all for now. Remember to come by the Hot Chicken Festival in East Nashville on July 4th to benefit Shelby Park. I was at the sponsor appreciation gathering last night at Yazoo Brewery and I had a nice conversation with Former Mayor Bill Purcell who actually started the festival.

Edited July 1, 2013 by 5th & Main Urbanite

[RandomHero]

Just a small correction to the above post, the crying wolf is actually on Woodland.